Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Voya looks to acquire Alight, Wilbur Ross’s SPAC in talks to merge with GaN Systems, and Ex-L Catterton Asia Chief Thakran explores Singapore SPAC
Voya Explores a Potential Deal for Newly Public Alight
Voya Financial Inc. has been exploring a potential acquisition of Alight Inc., just a month after the benefits administrator went public through a SPAC, according to Bloomberg.
Voya, a New York-based retirement fund manager, has recently studied a purchase of Las Vegas-based Alight. It isn’t clear whether the companies are in active talks, and there’s no guarantee that any deal will be reached.
READWilbur Ross’s SPAC Is in Talks to Merge With GaN Systems
GaN Systems, which specializes in gallium-nitride technology for products such as semiconductors and transistors, is in talks to go public through Wilbur Ross’s Ross Acquisition Corp. II, according to Bloomberg.
READEx-L Catterton Asia Chief Thakran Said to Explore Singapore SPAC
Turmeric Capital, an investment firm led by former L Catterton Asia head Ravi Thakran, is exploring listing a SPAC in Singapore.
The Singapore-based buyout firm is working with an adviser on the potential SPAC IPO. The blank-check firm could raise about S$300 million ($221 million) and Thakran will be its chairman and CEO.
READRocket Lab Inks Deal With Varda Space Industries to Supply Multiple Photon Spacecraft for Space Manufacturing Missions
Leading launch and space systems company Rocket Lab today announced it has signed a deal with in-space manufacturing company Varda Space Industries to produce three Photon spacecraft that will integrate with their space factories, enabling high-value products to be manufactured in zero-gravity and returned to Earth in Varda’s re-entry capsule.
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Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...
With the passage this weekend of $95 billion in funding for Ukraine, Israel and Taiwan by the House of Representatives, some focus has gone back towards the defense sector, which has generally had a good year as a whole. But, SPACs have not been as active in defense, despite the fact that companies in the...